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iPod inventor, Thiel Capital among backers of battery company Advano in new funding

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News Article

Pippa Stevens
January 28, 2020

Originally posted on
CBNC

A battery start-up that’s backed by iPod inventor and Nest founder Tony Fadell, and which claims to have found a green and scalable way to make lithium-ion batteries more efficient, on Tuesday announced that it raised $18.5 million in its Series A funding round.

New Orleans-based Advano is focused on increasing batteries’ energy density by replacing the graphite in the anode — the battery’s negative side — with silicon, which is able to hold roughly ten times more lithium than graphite.

Ever since Sony first commercialized the lithium-ion battery in 1991, scientists have been toiling over how to make these devices cheaper, safer and more efficient, and Advano is far from the first company to explore using silicon instead of graphite. Other companies developing these types of batteries include Sila Nanotechnologies, for example, which is valued at over $1 billion.

(Read the full article on CNBC)